Samsung India announces partnership with YES BANK; will support credit cards on Samsung Pay platform

YES BANK on Thursday announced its partnership with Samsung India to allow its credit Card customers to use payment platform Samsung Pay .

This will allow YES BANK credit card holders to make payments using Samsung smartphones at Point of Sale (PoS) card machines at merchant outlets.

“The partnership with YES BANK will enable more consumers to join Samsung Pay platform and go digital,” said Sanjay Razdan, Director, Samsung Pay Business, in a statement.

YES BANK credit card users can also avail of introductory cashback benefits up to Rs 1,500 till September 30.

“Through our association with Samsung Pay, we are extending the latest technology and lending services in the payments industry to our YES BANK credit card members,” said Pralay Mondal, Senior Group President, Retail and Business Banking, YES BANK.

Samsung Pay uses Magnetic Secure Transmission (MST) technology, enabling consumers to make offline payments using Samsung smartphones without the need for a physical card.

Samsung has integrated Paytm and UPI in the Samsung Pay app to increase the reach of the app along with providing additional options to users.

Samsung Pay is currently limited to Galaxy S8 , Galaxy S8+, Galaxy S7 edge, Galaxy S7, Galaxy Note 5, Galaxy S6 edge+, Galaxy A5 (2016), Galaxy A7 (2016), Galaxy A5 (2017) and Galaxy A7 (2017). In addition to smartphones, the service and app will come to Samsung Gear S3 Smartwatch, allowing users to pay using their smartwatches.